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Home Buyers Support Thread Part 3

991 replies

juneybean · 21/07/2014 17:37

Part 2 here -> www.mumsnet.com/Talk/property/a1905904-Buyers-support-thread-part-2?msgid=48420379#48420379

Hope it's okay that I made the next thread :)

OP posts:
SeattleGraceMercyDeath · 14/04/2015 13:23

Hard copy of mortgage offer received today, so happy, feels like a massive hurdle out of the way. Solicitors now instructed, he reckons completion should be around 4-6 weeks, we're in no hurry as we're buying from the landlord so we actually live in the property already. I'll be refraining from stripping the godawful wallpaper until everything is signed sealed and delivered. Good luck to everyone else who is waiting!

TheEmpressofBlandings · 14/04/2015 19:04

That's a great step to have completed Seattle. Sounds like it should be plain sailing for you from here on.
Coffee, we've lived in a fair few houses with concrete subfloors, what is it that concerns you?
Our mortgage co will be arranging the survey next week apparently, will wait and see

laracroft2001 · 14/04/2015 19:50

Had it confirmed mortgage funds should be released Thursday. How long should I expect to be waiting until I move now

cheminotte · 14/04/2015 20:47

Sounds like a simple move for you Seattle at least you already know what the neighbours are like.

We have 2 viewings booked for our house at last! Dropping the price obviously worked.

BeaufortBelle · 14/04/2015 21:12

Congratulations all those people who have turned corners this week. Please can you spare a prayer for us. A damp/timber survey has now been arranged and we are hoping all will be well so we don't lose our purchase that we have lost our hearts to. :(.

Offers hand to be held - this is going to be a fraught and horrid week and I anticipate tears before it's over.

laracroft2001 · 15/04/2015 05:30

Good luck beau!

mommathatwearspink · 15/04/2015 16:15

Congrats to everyone making progress this week and keep going everyone else Smile

I feel very frustrated at the moment, no one seems to be telling me anything and we don't seem to be getting anywhere fast. There is a date flying around which is in three weeks, however our buyers still haven't received their mortgage offer. It has been 4 weeks since they did the survey, is this normal? We got an offer within 3 days of them receiving the survey. I'm starting to fret Sad

cheminotte · 15/04/2015 19:38

Hand here to hold Beau
DP went to see the amazing-looking house today (I have an appointment tomorrow). He says easily £30k of work needed in first year or two (new windows and kitchen as minimum) and signs that there has been damp in the past. He said it would be difficult to test at this time of year, is that true? Estate agent said 7 viewings this week alone, but vendors want to meet all potential buyers, so it may not come down to who makes the best offer.

BeaufortBelle · 15/04/2015 20:47

Next survey tomorrow. I wouldn't mind if our house wasn't priced accordingly in the first place. I am trying to reconcile myself to the fact that if the vendors weren't very seriously keen they wouldn't be spending more money on another survey. It's very nail biting though. It wouldn't trouble me so much if we hadn't found the house of our dreams and sold our hearts to it. I think my DH is going to be prepared to take a hit on price though after what he has been saying over the last few days.

Fingers and toes please.

IUseAnyName · 16/04/2015 07:00

Coffee i hope things are sorted with sols.... I do all the secretary work in our house, much easier if dh stays out of it, although it does mean I get the blame if something is delayed :/
Whts wrong with concrete floor? Ours is timber, not sure of that's good?

BeaufortBelle · 16/04/2015 20:44

The damp surveyor (and that doesn't represent him well; he was a really nice bloke, straightforward and open and happy to share his findings) said that our house was dryer than he would expect for a house of its age and style. Nothing significant to worry about whatsoever.

Just got to wait and see now whether this is a mask for cold feet and price reduction negotiations.

Please let this be alright. This is my 5th purchase and my husband's 3rd. Never have we wanted a house so much with our hearts. Please, please, pretty please.

IUseAnyName · 16/04/2015 21:12

Hope you complete soon Lara, will be interested to know how long it takes you from mortgage being sorted.

Have you had the viewings yet cham.... How did they go? Any feedback?

Good luck beau

I am getting increasingly frustrated! We don't think we'll complete before our tenancy agreement is up, so our vendor said a month ago that he is happy for us to move in this coming weekend.
I know this is a nice offer of him and he didn't have to do it, but today, 2 days before we are due to move! he has told me that although he is still happy for us to store things in the house this weekend he would rather us not move in until completion.
Frustrating as although our tenancy isn't up until end of the month my DH goes away this weekend, so it's the only chance we will get to move all the big stuff. So I now have a day to find some sort of caravan or holiday let to tide us by until completion :(

cheminotte · 16/04/2015 21:23

Thank for asking Any name - one viewing today but no feedback yet.
I also saw a house and was on time for the appointment so had a bit of a chat with the vendor while waiting for the EA to turn up. Then she turned up and announced that the next people were early and was it OK to look around together or would I prefer to wait in the kitchen while she showed them around first?!?!
This is the agent we are selling with. Thought it was really unprofessional.

BeaufortBelle · 16/04/2015 21:29

I use and Cheminotte that sounds awful on both counts Shock.

IUseAnyName · 16/04/2015 21:53

wow chem really unprofessional!.... It's so difficult to get a good feeling about houses when the ea leaves a bad taste in your mouth :(

laracroft2001 · 17/04/2015 06:28

Aaaarrrggghhhh! That is all.

Despite being told survey was ok and mortgage funds were to be released yesterday, it appears the bank mis communicated something to the mortgage broker,and can't release the funds until they get a certain piece of paper or something. (Else the mortgage broker made a mistake and is bull shitting)

What's even worse is based on the information I had, yesterday morning a instructed the solicitors (and paid them) for the next searches that needed done.

Whyyy?????????

BeaufortBelle · 17/04/2015 07:15

lara phone the bank andask them to identify which document is missing then go to the mortgage broker and sit with him or her until it is resolved or you have an action plan with a timeline to resolve it.

TheEmpressofBlandings · 17/04/2015 08:14

Chem, I would complain to the estate agents about that as you are using them. Angry hopelessly unprofessional.
IUse, really hope you manage to find something to tide you over - do you have any idea yet when you may complete?
Lara, hopefully the mortgage will arrive v soon. I'd lay bets that it's your broker who's messed up!

Socy · 17/04/2015 08:24

I sympathise with your frustration lara. I hope you get it sorted today.

I managed to speak to our vendor last night and the 'subsidence' that is the cause of raised insurance premiums and giving my solicitor & me cold feet is probably nothing of the sort Confused

Apparently when the house was bought by the current owners previous owner didn't know what works had been carried out (20 years ago, though she was living in the house at the time) and said 'it might have been underpinning'. Surely you would know if your house had been underpinned? Don't you have to move out while the work is being done? Also this work was based on a council grant and not enough to cover underpinning. I suspect it was the damp proof course and not underpinnning at all. Essentially there is no record of subsidence or underpinning. So would I need to mention this to insurers? I don't have a mortgage so it is all my risk!

BeaufortBelle · 17/04/2015 08:28

Socy would it be worth engaging a structural engineer to establish the facts as they stand presently?

Socy · 17/04/2015 09:17

Beau yes that might be the way to go - would a structural engineer be able to tell if the property has been underpinned or not?

Socy · 17/04/2015 17:07

Hooray I have found insurance which is only interested in subsidence which happened in the last 10 years Smile So no inflated premiums.

laracroft2001 · 17/04/2015 19:11

Hello

Yes beau that is what I should do! I spoke to the area manager of the brokers today and I should know more on Monday. He doesn't seem to think I need to panic just yet and don't need to go to other banks just yet, but omg stress....

The vendor is fully aware of the situation and fine- so that's good at least.

Great news re the insurance!

Should I be instructing any other kind of survey other than valuation through the bank? What's this homebuyers survey and how much will it cost?

I have actually bought a property before but it was a new build flat and we were renting before so it was all very simple!

BeaufortBelle · 17/04/2015 19:59

Homebuyers doesn't tell you much and I'm not sure if you have much recourse if problems arise later. Personally I'd always have a full structural survey. Ours was £1050 plus VAT on a biggish house Surrey/London borders. Our offer represented work we had already estimated but it was reassuring that the surveyor didn't find any surprises. I think that's worth a teeny tiny fraction of the purchase price - less than 10% of the agents fees and if something big has been missed there is some recourse. Alternatively if a surprise arises not already reflected you have the opportunity to as for a reasonable reduction to put it right.

It's hell though to get there. We aren't out if the woods yet and I'm literally strung with stress tonight. Good luck all.

Our purchasers are the nickel and dime sort I think. I'm swallowing hard and smiling sweetly but the professional clean might be replaced with a skid in each bog unless they stop being disingenuous

TheEmpressofBlandings · 17/04/2015 20:36

There are basically three levels of survey. The valuation is the most basic and they will drive past, say yes, its a house and that's about it. Homebuyers is a level up from that, where they will look at the house but not in much detail, eg they won't check floorboards under carpet, they won't look in the loft etc. Building survey (used to be called structural survey) is the most detailed. Takes a whole day and you get a very detailed report, but obviously this costs the most. We paid £1300 for the last one we had done, and lost that money as the purchase didn't proceed. We're been buying (or trying to!) old houses though (200 years ish), so its not worth the risk not to get one on a house like that. We've used standard surveys before when buying newish houses.

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